Rexel shares slide following Q3 results, maintains full-year guidance By Investing.com

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<p>Shares of Rexel plunged by 5.29% to EUR18.70 on Friday, following the company’s release of its third-quarter results, which fell short of market expectations. This marks a 14% decrease over the past month. </p>
<p>Rexel reported a 3.1% drop in Q3 sales, amounting to 4.7 billion euros ($4.97 billion). However, on a same-day basis, the company saw a sales increase of 2.6%, demonstrating some resilience amidst challenging market conditions.</p>
<p>The performance of non-wire products, a crucial factor for Rexel’s performance, was underwhelming with only a 1.3% rise in prices. This failed to meet Citi’s anticipated increase of between 2-3%, adding to market skepticism about the company’s performance.</p>
<p>Despite these setbacks and contrary to market expectations, Rexel maintained its full-year guidance. This move signals the company’s confidence in its business strategy and its ability to navigate through the current market headwinds.</p>
<p><em>This article was generated with the support of AI and reviewed by an editor. For more information see our T&amp;C.</em></p>
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<br /><a href="https://www.investing.com/news/stock-market-news/rexel-shares-slide-following-q3-results-maintains-fullyear-guidance-93CH-3204477">Source link </a></p><p>The post <a href="https://forextraderhub.com/rexel-shares-slide-following-q3-results-maintains-full-year-guidance-by-investing-com.html">Rexel shares slide following Q3 results, maintains full-year guidance By Investing.com</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>